Mezzan Holding, one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the Gulf, announced a net profit of KD7.2 million ($23.93 million) for the first half ending June 30, 2021.
Mezzan Holding net profit to parent company shareholders up 6.8%
KUWAIT, 1 days ago Mezzan Holding KSC, one of the largest manufacturers and distributors of food, beverage, FMCG and pharmaceutical products in the Gulf, grew its Q1 2021 net profit to parent company shareholders by 6.8% compared to Q1 2020, as a result of improved operating results. The company recorded KD73.4 million in revenue, driven by its food manufacturing and distribution, fast-moving consumer goods and healthcare as well as Mezzan’s industrial segment. Earnings before interest, tax, and depreciation and amortisation (EBITDA) grew by 1% due to the reduction in selling, general & administrative expense (SG&A).
Mezzan Holding shareholders approved its Board of Directors’ recommendation to distribute cash dividends of 18% of the nominal value of the share (18 fils per share) representing 50% of the profit, and distribution of treasury shares at a rate of 2%.
Mezzan Holding names new chief financial officer
DUBAI, December 17, 2020 Mezzan Holding, one of the largest manufacturers and distributors of food, beverage, FMCG and healthcare products in the Gulf, has announced the appointment of Nabil Ben Ayed as the group s new chief financial officer. Ben Ayed brings with him more than 20 years of extensive experience in strategic financial planning, operations management and business development for multinational companies across Asia, Africa, Australia and the Middle East. He joined Mezzan in 2019 where he most recently served as group finance director. He has a strong track record of driving growth and executing measurable results with a specialization in IPOs, mergers and acquisitions, tax optimisation, business planning, ERP implementation and performance improvement.
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